$\begin{array}{|r|}\hline\$ 5.67 \\\hline \$ 9.99 \\\hline \$ 10.11 \\\hline \$ 2.56 \\\hline \$ 5.33\\\hline\end{array}$

question 46

Multiple Choice

$\begin{array}{|r|}\hline\$ 5.67 \\\hline \$ 9.99 \\\hline \$ 10.11 \\\hline \$ 2.56 \\\hline \$ 5.33\\\hline\end{array}$
-You are told that the prices in the table above are from yesterday's price quote for LOL. They represent the daily high, daily low, close, 52 week high and 52 week low but are mixed-up and out of order. Which one MUST be yesterday's high price?

• A) $5.67
• B) $9.99
• C) $10.11
• D) $2.56
• E) $5.33

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Definitions:

On Hand

Refers to the inventory that is physically present and available for sale or use within a business.

Net Operating Income

The profit generated from a company's regular, core business operations, excluding deductions of interest and taxes.

Variable Costing

An accounting method where only variable costs (costs that change with production levels) are included in product costs, excluding fixed costs.

Net Operating Income

The total profit of a business after operating expenses have been deducted, but before taxes and interest.